Analysts Set Watsco, Inc. (NYSE:WSO) Price Target at $404.14

Shares of Watsco, Inc. (NYSE:WSO) have been assigned an average rating of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $404.1429.

Several equities analysts recently commented on WSO shares. Wolfe Research set a $349.00 price objective on shares of Watsco in a research report on Tuesday, December 9th. Zacks Research cut shares of Watsco from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. UBS Group began coverage on shares of Watsco in a research note on Monday, January 5th. They set a “neutral” rating and a $370.00 price objective for the company. William Blair reissued a “market perform” rating on shares of Watsco in a report on Wednesday, October 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Watsco in a research note on Thursday, October 30th.

Watsco Price Performance

Watsco stock opened at $377.74 on Friday. Watsco has a 1-year low of $323.05 and a 1-year high of $535.40. The business has a fifty day moving average price of $350.54 and a 200-day moving average price of $387.87. The stock has a market capitalization of $15.32 billion, a price-to-earnings ratio of 29.51 and a beta of 1.03.

Watsco (NYSE:WSO) last released its quarterly earnings results on Friday, November 7th. The construction company reported $3.98 EPS for the quarter. The company had revenue of $2.07 billion during the quarter. Watsco had a return on equity of 16.48% and a net margin of 7.04%. On average, equities research analysts anticipate that Watsco will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, January 16th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Friday, January 16th. Watsco’s dividend payout ratio (DPR) is presently 93.75%.

Institutional Investors Weigh In On Watsco

A number of large investors have recently bought and sold shares of the company. Empowered Funds LLC raised its position in Watsco by 4.1% during the 1st quarter. Empowered Funds LLC now owns 5,927 shares of the construction company’s stock worth $3,013,000 after buying an additional 232 shares during the last quarter. Swedbank AB increased its stake in shares of Watsco by 3.8% in the second quarter. Swedbank AB now owns 78,585 shares of the construction company’s stock worth $34,705,000 after acquiring an additional 2,854 shares during the period. Mn Services Vermogensbeheer B.V. raised its holdings in shares of Watsco by 5.7% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 13,000 shares of the construction company’s stock worth $5,741,000 after purchasing an additional 700 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Watsco by 1.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 15,993 shares of the construction company’s stock valued at $7,314,000 after purchasing an additional 218 shares during the period. Finally, IFM Investors Pty Ltd lifted its position in Watsco by 4.7% during the second quarter. IFM Investors Pty Ltd now owns 6,999 shares of the construction company’s stock valued at $3,091,000 after purchasing an additional 311 shares during the period. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Company Profile

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.